Truist Purchase Reviewer in Irvine, California
Req ID: R0032433
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Regular or Temporary: Regular Language Fluency: English (Required) Work Shift: 1st shift (United States of America)
Please review the following job description:
Process files delivered for purchase by Correspondent Lending from the point files received through New Loan Set Up on the servicing system. Responsible for data entry from loan files documentation into UNIFI including all closing fees, pulling, analyzing, and clearing a Sentinel Report. Perform accurate preliminary review of specific information and documents included in each loan file; pending and clearing files for any incorrect or missing documentation. Perform a final review of all UNIFI information to confirm that the correct information has been entered prior to funding; releasing the wire for purchase. Complete New Loan Set Up process to ensure that loans correctly board the servicing system from the Origination System, including posting escrow funds and setting up escrow details.
Essential Duties and Responsibilities: The following is a summary of the essential functions for this job. Other duties may be performed, both major and minor, which are not mentioned below. Specific activities may change from time to time. May be responsible for one or more of the following areas: Mail Distribution: 1. Log in receipt of files into UNIFI as applicable. 2. Distribute paper and LMS files to associates. 3. Assist Secondary Marketing in tracking receipt of original notes and return them to Correspondents for corrections or non-purchased loans. Data Entry: 1. Key crucial information obtained from file documentation into UNIFI, including borrower information, asset and liability information, employment information, property information, appraisal information, escrow information, all closing fees, and Home Mortgage Disclosure Act (HMDA) information. 2. Pull a Sentinel Report to validate annual percentage rate (APR) disclosed by the Correspondent and clear any items of concern that display “red ink” (indicate loan did not pass APR test). 3. Cross-train to help with the preliminary file review as volume dictates. Preliminary File Review: 1. Review file documentation for required documents and ensure correct information is included in documents. 2. Perform manual checks of all Debarment Lists (e.g. Freddie Mac, HUD Limited Denials of Participation, BB&T (suspicious activity)). 3. Notate files to be pended before forwarding file to pender. 4. Cross-train as back-up support for data entry function as volume dictates. Pending a File: 1. Communicate all items pended by the Operations group, Quality Monitoring (QM)/Compliance group, and Credit group to Correspondents via Pend Notice. 2. Continue to re-pend each file every three days until all pend issues are resolved. 3. Clear Operations pended items as required documentation is received. Ensure QM/Compliance group and Credit group receive any pended items that are sent to Operations group in error. 4. Continue to re-pend files for QM/Compliance group and Credit group if items received are not sufficient to clear pended items. 5. Cross-train as back-up support for preliminary file review function as volume dictates. 6. Make decisions regarding pending issues and provide support to other team members. Funding: 1. Perform a final check of loan file and UNIFI ensuring all required information has been keyed into UNIFI. 2. Communicate to Correspondent prior to funding of escrow items due and payable by them prior to funding. 3. Determine loan’s ability to be bought down and calculate payment, due date, principal balance and escrow balance to be purchased. 4. Complete the HMDA checklist and save for audit purposes. 5. Determine if loan is pended over seven days and calculate pended loan penalty and adjust loan price. 6. Perform final check to ensure data verify report was pulled and cleared, Sentinel Report was pulled and cleared, QM tests were performed and indicated as passed in UNIFI, and Debarment Lists were checked and cleared. 7. Initialize fees and ensure Sentinel Report is correct and interest due to/from Correspondent calculated correctly. 8. Wire funds to Correspondent for loan purchase in the WPI wire system and upload supporting documentation into wire system portal. 9. Cross-train as back-up support for preliminary file review and data entry functions as volume dictates. 10. Provide back-up support for wire approvals. 11. Make decisions regarding pending/funding issues and provide support to other team members. New Loan Set Up: 1. Post all loan level escrow deposits to the servicing system and prepare general ledger (GL) entries and balance GL entries to purchase advice escrow amounts. 2. Set up escrow details on the servicing system as applicable. 3. Review crucial data to ensure loan information transferred correctly from UNIFI to MSP (servicing system). Make changes to MSP as necessary. Required Skills and Competencies: The requirements listed below are representative of the knowledge, skill and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. 1. High School diploma or equivalent 2. Two years of mortgage loan processing experience 3. Good communication skills 4. Demonstrated accuracy in work performed 5. Working knowledge of mortgage loan procedures and documents 6. Ability to work overtime as needed 7. Demonstrated proficiency in basic computer applications, such as Microsoft Office software products 8. Ability to travel, occasionally overnight Desired Skills: 1. Four years of mortgage loan processing or review experience Truist supports a diverse workforce and is an Equal Opportunity Employer who does not discriminate against individuals on the basis of race, gender, color, religion, national origin, age, sexual orientation, gender identity, disability, veteran status or other classification protected by law. Drug Free Workplace. Thank you for your interest in Truist! BB&T and SunTrust have come together in a transformational merger of equals to create Truist, the premier financial organization in the country. You may notice references to our legacy company names, BB&T and SunTrust, in places throughout this site. All such references should be understood to refer to Truist moving forward while we continue to transition to the Truist name. EEO is the Law Pay Transparency Nondiscrimination Provision E-Verify
Thank you for your interest in Truist! BB&T and SunTrust have come together in a transformational merger of equals to create Truist, the premier financial organization in the country. You may notice references to our legacy company names, BB&T and SunTrust, in places throughout this site. All such references should be understood to refer to Truist moving forward while we continue to transition to the Truist name.
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